Goldman Sachs Hit With Sealink Suit Over $587M In RMBS

Law360, New York (August 13, 2012, 7:27 PM EDT) -- Irish financial firm Sealink Funding Ltd. hit several Goldman Sachs & Co. units with a suit in New York state court Monday, accusing the investment banking giant of misleading it over the purchase of nearly $587 million in residential mortgage-backed securities.

Sealink, a Dublin-based fund created to manage the riskiest assets of German bank Landesbank Sachsen AG, invested in 12 RMBS offerings by Goldman Sachs between 2006 and 2007, according to a document filed in the suit. The offerings were based on fraudulent misrepresentations and omissions...